Recovering Unpaid Rent

[Matthew Webster]

Hi everyone,

I am a landlord currently with two B2L properties looking to expand my portfolio.  I am also someone who constantly thinks about business, new ideas and how I can help other property investors. One area that there seems to be little to no discussion on (at least that I can find) is that of recovering lost rent when NO rent guarantee scheme or insurance has been purchased.

Typical scenario would be you have had to evict a tenant for not paying rent, you have no rent insurance, have paid all the court fees and are now out of pocket for £££’s of pounds. What can you do to get your money back? Or do you just take the financial loss and move on?

So, my question is, if there was an option to use a company to recover those losses for you, without you needing to spend a further thousand pounds using one of the big solicitors firms, would this be of any interest to our community?

Really interested to get peoples thoughts on this and thanks for your time reading.

[haf1963]

This has only happened once to me and given that the tenant was in all sorts of debt, it seemed a pointless exercise to chase them for it.

[paulrybak]

You can use debt recovery company's to collect the unpaid monies. I know someone who used a company called DCBL to recover unpaid rent from previous tenants. He was very impressed with the service and was pleasantly surprised by the cost.